Bitcoin has fallen to the levels of April 2025, reflecting a large-scale outflow of capital from risky assets.
On Friday, November 21, its price dropped to $81,165, reaching its lowest level in more than six months.
BTC's decline is compounded by uncertainty over whether the Federal Reserve will cut interest rates next month.
The publication of employment data in the United States for September showed that the economy added 119,000 jobs, which is significantly higher than the 50,000 expected.
The upbeat data cast doubt on the likelihood of a Fed base rate cut in December. According to the FedWatch tool from CME Group, it is now about 40%.
The bitcoin drop also coincided with a stock market correction, even despite Nvidia's impressive earnings report.
Cryptocurrencies are suffering from active sales by whales that follow a four—year cycle, and it is usually at this point that prices fall," said James Butterfill, head of research at CoinShares.
And although we do not share this point of view from a fundamental point of view, to some extent it has been justified - since September, large holders have been selling.
In addition, in early October, there was a cascading liquidation of positions in highly leveraged cryptocurrencies, which created conditions for continued volatility.